Bank of Ireland fined £3.7m after missing Confirmation of Payee safeguard deadline

The Payment Systems Regulator (PSR) has fined Bank of Ireland UK for failing to implement Confirmation of Payee (CoP) by the required deadline. The Payment Systems Regulator (PSR) has fined Bank of Ireland UK £3.7m for failing to implement a crucial fraud protection service on time. The bank missed the deadline by 14 months, leaving…

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